Post Office Monthly Income Scheme (POMIS): How Much Can You Earn From It? Know The Features
Retirement is meant to be hassle-free and relaxing, and here comes POMIS with the promise of regular income with low risk.
Retirement is meant to be hassle-free and relaxing, and here comes POMIS with the promise of regular income with low risk.
Post Office Monthly income Scheme for Retirement Planning
Post Office Monthly Income Scheme or POMIS is amongst the most attractive investment options for regular post-retirement income. As the name suggests, POMIS is designed to offer guaranteed monthly returns. It is a low-risk scheme as the government backs it and, hence, suitable for conservative investors.
Features of POMIS:
Advertisement
Also Read: Mastering SMART Financial Goals For A Secure Retirement: 5 Things To Consider
Process of Enrollment:
Advertisement
POMIS is ideal for retirees looking for secure, regular income with minimal risk. It is considered safe because the government backs it and carries a fixed interest rate. This interest is taxable and may bring down the net returns. The scheme provides no capital appreciation; hence, it is best suited for people seeking income instead of growth.
Advertisement
Do You Still Have Rs 2,000 Notes In Your Possession? Learn How To Exchange It
Financial literacy is a unique skill which anyone, regardless of age, can learn and is vital to help you become financially independent.
Growth in wealth is essential not only for the young and those in their middle ages, but also for the retirees. It becomes more important for them, because there are fewer avenues to increase their wealth, and they also need to outpace the impact of inflation
Get all the latest stories delivered to your inbox
Advertisement
Get all the latest stories delivered to your inbox